Contact Center as a Service Market

Global Contact Center as a Service Market is valued at USD 4.7 Billion in 2022 and it is expected to reach USD 15.1 Billion by 2029 with a CAGR of 18.0% over the forecast period.

Scope of Global Contact Center as a Service Market

Global Contact Center as a Service Market: Global Size, Trends, Competitive, and Historical & Forecast Analysis, 2022-2029: The market will expand due to the growing use of cutting-edge contact center technologies, which are structuring customer contacts to provide an improved client engagement and improving the industry's functionality.

A contact center that has the ability to handle client conversations is powered by a contact center as a service (CCaaS), a kind of cloud-based user interaction technology. The major goal of CCaaS is to assist companies in enhancing their client engagement while simultaneously lowering operational expenses. With CCaaS concepts, businesses typically rent physical resources from a carrier instead of buying them outright and employing application licenses. Throughout this strategy, firms use a pay-as-you-go approach to obtain the assets they need as need rises or falls.

Contact Center as a Service Product Description

Businesses have the option of renting equipment or can purchase their own CCaaS operator. Also, the others can use a hybrid approach, which combines both controlled and leased infrastructure. Scalability is a characteristic of the contact center as a service (CCaaS) phase, much like operational business demands. As the company needs change, it is possible to quickly deploy new functions, capabilities, and channels by using the Contact Center Software provider.

COVID-19 Impact on the Contact Center as a Service Market

The COVID-19 pandemic made it more important to implement technologies, such as cloud services, AI Infused, customer relationship management systems, and many others. Businesses have built cloud-based solutions that are provided as a service, including project administration, visual conferences, and several communication methods. During the outbreak, the CCaaS business choice helped businesses to grow more productively and improve customer satisfaction. As a consequence, COVID-19 has increased the market's need for contact centers as a service (CCaaS).

Global Contact Center as a Service Market Segmentation

The global Contact Center as a Service market is Segmented based on Service (Support & Maintenance, Integration & Deployment, Managed Services, Training & Consulting), Solution (Computer Telephony Integration, Automatic Call Distribution, Call Recording, Dialer, Customer Collaboration, Reporting & Analytics, Interactive Voice Response, Workforce Optimization, Others), Enterprise (Large Enterprises, Small & Medium Enterprises), End-User (Consumer Goods & Retail, BFSI, Healthcare, IT & Telecom, Government, Travel & Hospitality, Others), and Region (North America, Europe, Asia Pacific, Latin America, Middle East Africa)

Global Contact Center as a Service Market Segmentation

By Service

• Support & Maintenance
• Integration & Deployment
• Managed Services
• Training & Consulting

By Solution

• Computer Telephony Integration
• Automatic Call Distribution
• Call Recording
• Dialer
• Customer Collaboration
• Reporting & Analytics
• Interactive Voice Response
• Workforce Optimization
• Others

By Enterprise

• Large Enterprises
• Small & Medium Enterprises

By End-User

• Consumer Goods & Retail
• BFSI, Healthcare
• IT & Telecom
• Government
• Travel & Hospitality

Key Players of Global Contact Center as a Service Market

Some major key players for the global Contact Center as a Service market report cover prominent players like

• Avaya, Inc.
• Alcatel Lucent Enterprise
• Cisco Systems
• Five9, Inc
• Unify Inc
• Enghouse Interactive Inc.
• Microsoft Corporation
• Genesys
• SAP SE
• NICE inContact
• others.

News

Google introduced Cloud Contact Center AI Platform

On 22^nd, March 2022; Google introduced Cloud Contact Center AI Platform, which is an addition to Contact Center AI, that provides a complete out-of-the-box platform for the contact center. It supports uniting sales and advertising. It also helps to group data together throughout the customer experience. It combines the benefits of AI, internet flexibility, multi-experience abilities, and strong connectivity with customer relationship management systems.

Microsoft Launched a CCaaS platform That Integrates the Abilities of Microsoft Teams, Power, Dynamics 365, Azure, And Nuance AI

On July 19^th, 2022; Microsoft announced a CCaaS platform that integrates the abilities of Microsoft Teams, Power, Dynamics 365, Azure, and Nuance AI. Microsoft has placed its considerable foot into the contact center technological circle. The company has now dug considerably into the CCaaS industry. The CCaas include natural language processing features, teams, and dynamic 365 integrations.

GoTo Upgraded Its CCaaS with Flexible Client Communications

On March 02nd, 2022; The Contact Center as a Service (CCaaS) solution from GoTo, previously known as LogMeIn, has been improved and now concentrates on flexible client communications. For customers utilizing its CCaaS service, GoTo claimed the new capabilities would enhance customer interactions and boost revenue while combining flexible customer interaction. The brand-new CX will be hosted in GoTo Connect, it is one of 2 additional SMB-focused systems that the company unveiled the previous month that is intended to let customers operate flexibly.

Market Drivers

Adoption Of AI Technologies In Chatbots For Analyzing Future Behaviors Are Expected To Boost Contact Center as a Service Market Growth:

To boost the software's efficiency, companies are implementing artificial intelligence. The study of customer behavior at all service stages is aided by AI-based technologies. It offers real-time customer data and predicts prospective consumer behaviors. Furthermore, chatbots powered by AI shorten client wait times by participating in and facilitating conversations. The data gathered during the interaction is sent to the analytics engines that aid in contact center process improvement. The sentimental assessment searches for a term to anticipate the tenor of a user's reaction similar to predictive modeling.

CCaas helps workers may make judgments that improve the callers' encounters and customer service owing to NLP and deep learning. According to Kearney, a large business services company, combining AI and robotic processes automating reduce agent support time by 25% in the year 2022. Hence growing industrial competition, organizations are started implementing chatbots on their website, which will enhance the global contact as a service market.

Increasing Customer Satisfaction with Advance Technologies Are Expected To Accelerate Contact Center as a Service Market Development:

One of the main factors driving the demand from multiple end industry sectors is rising client priority for self-service characteristics of CCaaS like client service chatbots, engaging voice responding, and automated client reminders.

On May 16, 2022, to improve telehealth operations in Southeast Asia, Doctor Anywhere, an international omnichannel medical firm located in Singapore, selected Vonage, to offer an efficient and timely electronic quality medical solution. Vonage is a worldwide leader in cloud telecommunications for enterprises.  The telehealth operation is done via a smartphone app, it is simple to manage one’s health. The user community is predicted to increase quickly as a result of the incorporation of the Video API, which will enhance consumer interaction.

Market Restraints

Personal Data Theft Concerns are expected to Hinder Contact Center as a Service Market Growth

Increasing data protection issues are anticipated to impede market expansion throughout the projected period. Contact centers, which are susceptible to both external as well as local data theft and intrusions, hold consumer info including credit card details and healthcare details.

In addition, cloud technology raises issues with outside safety, among many others, owing to the combination of information, networking, transaction administration, software platforms, and virtualization. Such variables are anticipated to limit global contact center as a service market growth.

Geography Analysis

North America is expected to Capture a Major Share of the Global Contact Center as a Service Market

Geographically, North America is anticipated to be the biggest marketplace over the forecast period due to the elevating migration of several enterprises towards cloud-based solutions. Additionally, the U.S. is home to a sizable concentration of small and moderate businesses, which are promoting development in these areas. In terms of workforce and growth, the United States is a worldwide leader in the contact center sector industry.

For instance, according to a poll on the number of contact centers that were created in 2021, the United States has the newest call centers, about 100 locaters. Texas has over 22,500 telemarketers working there in 2021, making it the county with the largest telemarketing workforce. With 15,000 telemarketer employees, Florida came in second.

Asia Pacific Contact Center as a Service Market Is Expected To Grow At A Considerable Pace Over The Forecast Period

Asia Pacific is expected to grow considerably over the forecast period. The introduction of emerging innovations, including AI, as well as the quick pace of digitalization, with the rising need for multichannel service provision, are promoting future-focused technological expenditures and purchases in the area. In this sector, many companies are switching to cloud-based solutions. Over the next years, it is projected that this would provide growth prospects for the local market.

Furthermore, the presence of major companies in the region is expected to contribute to market growth. One of the top contact center service providers worldwide is Tata Consultancy Services (TCS), which is situated in India. The business made almost 25 billion dollars in sales for the fiscal year that ended on March 31, 2022.

By Regional & Country Level

North America

• U.S
• Canada

Europe

• U.K
• France

Germany

• Italy
• Asia Pacific
• China
• Japan
• India
• Southeast Asia

Latin America

• Brazil
• Mexico

Middle East and Africa

• GCC
• Africa
• Rest of Middle East and Africa

Report Analysis	Details
Historical data	2016 - 2021
Forecast Period	2022 - 2029
Market Size in 2022:	USD 4.7 Billion
Base year considered	2021
Forecast Period CAGR %:	18.0%
Market Size Expected in 2029:	USD 15.1 Billion
Tables, Charts & Figures:	175
Pages	300
Companies	Avaya, Alcatel Lucent Enterprise, Cisco Systems, Five9, Unify Inc, Enghouse Interactive Inc, Microsoft Corporation, Genesys, SAP SE, NICE inContact, and others.
Segments Covered	By Service, By Solution, By Enterprise, By End-User.
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa